News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • Further your forex knowledge and gain insights from our expert analysts @ddubrovskyFX and @FxWestwater on JPY with our free Q4 market analysis guide, available for free today.
  • How does stock market liquidity benefit its traders? Learn more here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • Quarterly earnings from Netflix and Tesla, two big tech companies, will take center stage next week and could set the trading tone for the S&P 500 and the Nasdaq 100. Get your weekly equities forecast from @DColmanFX here:
  • Do you know the difference between investing and trading? Because while the goal might seem the same, they're very different things . Learn more here.
  • What is your forex trading style? Take the quiz and find out:
  • Further your trading knowledge and gain informed market analyses from our expert analyst @DavidJSong on Oil with our free Q4 guide, available for free today.
  • Nasdaq 100 may hit new high soon.
DAX 30 Forecast: Index Threatens Range Break Out, Awaits GDP

DAX 30 Forecast: Index Threatens Range Break Out, Awaits GDP

Peter Hanks, Strategist

DAX 30 Price Outlook:

DAX 30 Forecast: Index Threatens Range Break Out, Awaits GDP

The DAX 30 has scampered higher in May thus far, looking to reclaim the ground it lost at the turn of the month. After fluctuating between two technical levels since early April, it seems as though the index has etched a range from resistance around 10,900 to support near 10,200. With that in mind, recent trips above the upper bound may suggest a willingness to continue higher, but trading above the area will have to be sustained before the DAX can solidify its gains and look higher still.

DAX 30 Price Chart: 1 – Hour Time Frame (April 2020 – May 2020)

dax 30 price chart

Using the index’s recent swing highs and lows, it can also be argued a falling wedge has been established and since price was climbing prior to the pattern, may suggest a break would serve a continuation higher. Whatever the technical prognosis may be, the index will likely await German and Euro Area GDP data before posting a significant technical break.

Due on May 15, the data has the ability to significantly influence sentiment – and therefore price – and could deliver the spark needed for the DAX 30 to break out of its various technical confines. Until the data is delivered, price action may be rather tepid as traders look to avoid exposure ahead of the impending event risk.

Therefore, the two-fold technical barriers overhead will look to keep a lid on further price gains for the time being. Conversely, potential support from the projected trendline drawn off of the recent swing lows could look to ward of losses. Either way, the upcoming data could posses the influence to make or break the DAX’s technical patterns and a committed follow-through may see the recent trading range broken. In the meantime, follow @PeterHanksFX on Twitter for updates and analysis.

--Written by Peter Hanks, Analyst for

Contact and follow Peter on Twitter @PeterHanksFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.